The 2018 smart home survey distilled: 5 key insights

It is 2018 and the world is more connected than ever before. The Internet of Things (IoT) reaches beyond commercial environments and into people’s homes, fulfilling everyday needs with greater speed and ease. Smart locks, such as the award-winning ENTR®, ideally integrate technology and securing bringing your home or office into the digital age, while keeping (access) control in your hands.

#1 - Smart locks add value to your everyday life

The market is finally taking off with 61% of households owning at least one smart home device or system. This is driven principally by devices that save the consumer money or enhance their security, rather than simply offering convenience, with smart door locks demonstrating exceptionally high value. ENTR, for example, allows you to tailor your access permissions to allow different people in at different times (or keep them out), without having to hand out or search for keys.

#2 - Smart locks are considered an exclusive luxury - but they don’t have to be

Awareness of the features and benefits of smart door locks remains quite low, with 39% of the population admitting they know very little about smart locks and don’t use this “exclusive luxury” at all. And yet, many leading smart door lock manufacturers use a combination of smartphone-embedded wireless technology to create an innovative home lock solution that anyone with a smart mobile device can acquire and use with ease. Smart locks can have features such as remote and location-based locking/unlocking, voice activation, timed access control, email notifications of access alerts, and integration with smart camera and lighting systems.

#3 - Once consumers learn how great smart locks are, they’re eager to buy them

Consumers are much more enthusiastic about smart door locks once they’re aware of the above-mentioned features and benefits. And they are particularly excited about the prospect of keyless entry removing concerns associated with sharing and possibly losing physical keys — or hiding them under the mat or in a plant pot. With smart locks like ENTR, keys cannot be copied or stolen, and can be instantly revoked if they fall into the wrong hands.

#4 - Smart lock consumers are concerned about cybersecurity - and are willing to pay for its assurance

Consumers continue to express concern about cybersecurity threats when using smart locks on their home doors. Yet, they are still more likely to buy the cheapest, and often least cyber-secure, locks on the market. While no lock – mechanical or digital – is 100% secure, there are no reported cases of homeowners reporting breaches of their smart-door locks to this date. More than half (57%) of consumers are happy to pay for the installation of their door lock and for system setup and integration (51%), to ensure their locks are as secure as can be. Mul-T-Lock’s team of authorized locksmiths accompany their customers from product selection and installation through routine maintenance and support, creating a home locking solution that’s maximally robust and secure.

#5 - If it can be accessed via smartphone, business owners will love using it too!

If you are in charge of a facility,organization, hotel or AirBnB, smart door locks, like ENTR, are for you. The prospect of avoiding the hassle and cost of cutting a spare set of keys for a cleaner, carer or employee is appealing to 75% of the sampled population. 70% indicated they would be more likely to invest in a smart door lock if it made it easier to handle key management when renting out their properties to short-term tenants. And despite concerns about battery power, most end-users (your business customers) prefer to use their smartphone to gain entry.

Bottom line

2018 has seen much growth in awareness and affinity for smart locks. With key features and benefits, but without requiring actual physical keys, smart locks are the secure and convenient future-forward innovation for your home or business doors.

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The Mul-T-Lock name, the muscleman logo, in the field of locking products, and any other name, mark or logo used by Mul-T-Lock and/or its affiliates and marked by an ® or ™ sign are registered/pending trademarks of Mul-T-Lock Ltd. and/or its affiliates. 2019